AutoNation has acquired a purchasing centre along Broadway in Littleton, but the most significant tenant will be being place.
The Fort Lauderdale-based mostly chain of auto dealers compensated $8.8 million very last week to purchase the Broadway Sq. at 5501-5549 S. Broadway, in accordance to general public data.
Broadway Square’s main developing, which is established back again from the road, is anchored by Colorado Antique Shopping mall, which leases 52,000 square toes, according to its proprietor. There are also a few free of charge-standing structures together the street.
AutoNation did not react to requests for remark on the acquire. But the corporation programs to change a person of the cost-free-standing structures, at present residence to a cupboard store, into a revenue business, in accordance to designs submitted to the city of Littleton. It will then fill lots of of the complex’s parking spaces with automobiles for sale.
Broadway Sq. is upcoming to an AutoNation dealership that sells Chryslers and Jeeps. And there are multiple other dealerships within just blocks.
Colorado Antique Shopping mall, which has been at Broadway Square considering that its inception in 1992, will proceed functioning. Operator Chris Rodriguez, who acquired the company in 2012, stated he’s on a lease that operates until 2030.
“We’re heading to nonetheless have sufficient (spaces) to make do,” he stated of the parking circumstance.
As for Broadway Square’s other tenants, which involves separate outlets advertising cash and koi, Rodriguez mentioned their long run differs. A single that is keeping is Sipp Soda Bar, which occupies a single of the freestanding buildings by the avenue. The cupboard retail store in the building that AutoNation is getting is going, he mentioned.
The assets was offered by Denver-dependent Sidford Cash, which paid out $7 million for it in 2016, information exhibit. The company owns other retail homes in the metro location, including the original Quiznos at 13th and Grant in Cap Hill.
Sidford Cash associate Andrew Lay reported Broadway Sq. was at first built for Safeway, though the grocer in no way moved in. Sidford ordered the home mainly because it is rental produce was eye-catching, he explained, but also believed that the dimension of the good deal prompt there could be an possibility for a regular exit.
“We also actually appreciated it due to the fact it’s 6 acres on South Broadway,” Lay mentioned.
Sidford, meanwhile, was just lately on the acquire facet in a independent offer. The organization paid $3.65 million for the Grant Sq. procuring centre at the corner of 104th Avenue and Grant Road in Thornton, records demonstrate.